Iran Air’s contract with Airbus includes orders for 21 airplanes from the current A320 family, 24 A320neo-family airplanes, 27 of the current A330 family, 18 A330-900s, 16 A350-1000s and 12 A380s. The deal for the A380s comes as a particularly welcome boost for Airbus, which has struggled to sell the superjumbo in recent years.

Following Monday’s announcement, ATR praised the Italian and French states for their role in the deal through the participation of their export credit agencies, respectively, Sace and Coface. The contract marks the long-awaited arrival of modern ATRs in Iran, where the first generation of the turboprops have operated since 1992.

The agreements took place as part of the implementation of the JCPOA (Joint Comprehensive Plan Of Action) on January 16. Under that deal, Iran has agreed to significantly curb its nuclear ambitions and allow the International Atomic Energy Agency regular access to its facilities for inspection.

Economic sanctions imposed on Iran by the West for many years have hindered the development of its air transport industry, leaving the likes of Iran Air with decrepit fleets of maintenance-intensive aircraft, many acquired before the 1979 Islamic Revolution. A lack of availability of spare parts kept many airplanes grounded or flying in questionable condition, making Iran's airlines some of the world’s most accident-prone.